www.thesoapboxroadshow.com BTW WAMU – Washington Mutual bank went bankrupt. WAMU was giving out “no doc” mortgages and Ninja loans.

Richard Cordray, President Obama’s latest pick to lead the new Consumer Financial Protection Bureau, faces an uphill battle for confirmation in the Senate this week. Judy Woodruff discusses the nomination and disagreement over the new agency’s structure with Sen. Sherrod Brown, D-Ohio, and Sen. Kay Bailey Hutchison, R-Texas.

Introductory Statement by Chairman Carl Levin – From Senate Committee hearings. The credit rating agencies are; Moody’s, Standard and Poors, and Fitch….QUOTE: “Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn MD, R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, today released a 635-page final report (PDF, 6MB) on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression.” levin.senate.gov

2010 www.amazon.com Watch more clips: thefilmarchived.blogspot.com United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. In January 2010, Obama proposed additional regulations limiting the ability of banks to engage in proprietary trading. The proposals were dubbed “The Volcker Rule”, in recognition of Paul Volcker, who has publicly argued for the proposed changes. The US Senate passed a regulatory reform bill in May 2010, following the House which passed a bill in December 2009. These bills must now be reconciled. The New York Times provided a comparative summary of the features of the two bills, which address to varying extent the principles enumerated by the Obama administration. For instance, the Volcker Rule against proprietary trading is not part of the legislation, though in the Senate bill regulators have the discretion but not the obligation to prohibit these trades. A variety of other regulatory changes have been proposed by economists, politicians, journalists, and business leaders to minimize the impact of the current crisis and prevent recurrence. None of the proposed solutions have yet been implemented. These …

Earlier today US President Barack Obama signed a bill that is the most comprehensive financial law to be enacted since the Great Depression. The law, which got final approval from the Senate last week, targets the kind of Wall Street risk-taking that helped trigger a global financial meltdown in 2007-2009. Gerald Celente says that this is only going to harm and will not do enough to change Wall Street.

Joe Knight uses thrift store characters to explain the financial crisis & who is to blame.

Countdown: So-called financial reform bill passes Senate, Dean Baker opines Visit: firedoglake.cvom

FREE Month Of Movies(!): www.netflix.com New TYT Facebook Page(!): www.facebook.com Follow us on Twitter: twitter.com Read Ana’s blog and subscribe at: www.examiner.com TYT Network (new WTF?! channel): www.youtube.com Check Out TYT Interviews www.youtube.com Watch more at www.theyoungturks.com

www.theyoungturks.com New TYT Facebook Page(!): www.facebook.com Subscribe to the FREE Video Podcast on iTunes: bit.ly Follow us on Twitter: twitter.com DISCOUNTS: www.theyoungturks.com FREE Movies(!): www.netflix.com Note: The above two links are for TYT sponsors. Read Ana’s blog and subscribe at: www.examiner.com TYT Network (new WTF?! channel): www.youtube.com Check Out TYT Interviews www.youtube.com Watch more at www.theyoungturks.com

DISCOUNTS: www.theyoungturks.com FREE Movies(!): www.netflix.com Note: The above two links are for TYT sponsors. New TYT Facebook Page(!): www.facebook.com Read Ana’s blog and subscribe at: www.examiner.com Follow us on Twitter: twitter.com TYT Network (new WTF?! channel): www.youtube.com Check Out TYT Interviews www.youtube.com Watch more at www.theyoungturks.com